Trendspotting

Before you book a table at a mall for some people watching, here’s what you should know about trend spotting. If you’re looking for the next big thing in terms of products try talking to people who are researching about it before it hits the stores. In this post I will be using the term ‘Habba’ which is Kuwaiti for trend that has already reached the mass population of its adopters, in other words a current hype. If you wish to establish thought leadership in your preferred field (fashion, technology, culture, etc.), then you need to hook up with the cool guys in that field. In the Roger’s innovation adoption curve the ‘cool guys’ make up the first 16% who ‘adopt’ an innovation, buy a product, use a software, wear a brand. You will know who they are by the magazines that they read, sites that they bookmark or conventions that they attend.

Opportunity is when you can leverage a trend before it hits mainstream or reach Habba status. Imagine opening a funky frozen yogurt joint two years back in Kuwait, wouldn’t that be nice? Well here’s how you could forecast a trend heading your way:

If you wanna impress your friends then go for the demographic that is closest to you. For me I would pick male in his late twenties working in Kuwait as an example. But if you are wondering what would sell really well for middle-aged women then don’t include me in your survey.

Narrow it down to psychographics

Not all who share the demographics have similar to likes and rituals. Amongst my peer group there isn’t much of an overlap between those who like going to museums and those who watch mixed martial arts matches.

Find out who are the innovators in that segment

In this stage you need to know which member of this group who always walk in with something new to share. ‘Guys guess what?’ or ‘Check out this article’ and ‘Finally my package arrived’ would be a good indicator of an innovator.

Ask what are their favorite brands and why

This can give you a clear idea about their values. Ask an engineer what’s his favorite car brand, he would say its a brand that’s known for efficient engines. Ask a devoted family man the same question, he would go for something that has a good braking system and airbags.

What are the cool guys doing these days

After finding out the value system of these innovators, ask them if they have noticed anything new in the market and what are are progressive groups are doing these days.

Now you have gained insight of an upcoming innovation. Practice these trend spotting steps, by the time there is a noticeable hype or ‘Habba’, you can just nonchalantly say ‘That’s so two months ago’. How’s that for being cool?

Comments, Add Your Own...

Habba trend Vs Segmentation
Very nice article which reflects the Kuwaiti business forecasting, using segmentation in market planning is very critical, the way we segment our community is tend to be more to fragmentation rather than segmentation eventually end up with useless numbers has no meaning to serve the business objective.

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